November 2, 2017, Vancouver, Canada- Marimaca Copper Corp, (“Marimaca Copperor the Company”) (TSX:COP) is pleased to announce that it has finalized its agreement to acquire 100% of the La Atomica property from a local Chilean company. The property directly adjoins the Company’s Marimaca project to the northwest and both properties are located 22km east of the port of Mejillones in the II Region of Chile. Marimaca Copperwill acquire this property through a wholly-owned local subsidiary. Marimaca Coppersigned a Letter of Intent to acquire this property in August 2017 (see Marimaca Copperpress release and accompanying figures dated August 21, 2017) for the details of this acquisition.
“As part of our continuing strategy to consolidate the land positon in the Marimaca district, we are very pleased to have finalized this transaction on the La Atomica claim block,” commented Luis Tondo, President and CEO. “We are confident that Marimaca-style mineralization is present on our new property, and we are preparing a 25-hole, 6,000 metre reverse circulation (RC) drilling program to explore this. In addition, an 11-hole, 3,000 metre program of RC drilling for the continuing exploration of the Marimaca property itself, will commence shortly.”
About Marimaca Copper Corp.:
Coro’s strategy is to grow a mining business through the discovery, development and operation projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company’s preference is for open pit heap leach copper projects, where minimizing capital investment and creating profitability are priorities and, where the likely capital cost is financeable relative to the Company’s market capitalization. The Company’s assets include the Marimaca development project; its 65% interest in the SCM Berta company, which owns the Berta mine and Nora plant and the Llancahue prospect.
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This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, include but are not limited to drill programs and exploration potential. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Marimaca’s ability to predict or control and may cause Marimaca’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, geological potential and mineralization. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company’s documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
Accordingly, readers should not place undue reliance on forward-looking statements. Marimaca Copperundertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.